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Writing off electricity instead of gas?

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Not really what I was hoping for. My employment contract requires me to have a car. They don’t pay mileage or a car allowance. I used to write off a portion of my gas. I was wondering if anyone knows a way to accurately account for the electricity the car is using from my home.
 
best thing I can suggest is to look at the year over year numbers for your electricity and determine the usage off that. Otherwise, just don't worry about it as it's a relatively minimal part of the overall cost. So long as you can write off the percentage of your payment/insurance used for work you should be okay.
 
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Not really what I was hoping for. My employment contract requires me to have a car. They don’t pay mileage or a car allowance. I used to write off a portion of my gas. I was wondering if anyone knows a way to accurately account for the electricity the car is using from my home.
Good question...just filed and accountant ballparked based on average electricity rates paid, average energy consumption on the car and kms driven. Easy to calculate.
 
I drive about 40k a year. The electricity is worth it to write off.
I'm driving about the same if not more...…

40K miles @ $0.04 KWH ( my home kwh average price here in Illinois ). - without my solar panels.

The model 3 is rated at 241 watt hours per mile...Soooo

3 miles = 1KWh. ( rounded up to 330 per mile from 241 for my lead foot ).

That means that 40K miles @ $0.04/kwh is going to cost me $533 for the year. Really? I ain't going to write that off.
 
Not really what I was hoping for. My employment contract requires me to have a car. They don’t pay mileage or a car allowance. I used to write off a portion of my gas. I was wondering if anyone knows a way to accurately account for the electricity the car is using from my home.
Writing off mileage on your taxes would be the best and easiest way to go by far.
55 cents for your first 5000kms
49 cents after 5000kms
So your annual 40,000kms would be approx $19,900 write off.
 
Writing off mileage on your taxes would be the best and easiest way to go by far.
55 cents for your first 5000kms
49 cents after 5000kms
So your annual 40,000kms would be approx $19,900 write off.

What? Whoaaahhh.....

Where are you getting those numbers from?

A 2017 survey of consumer electricity prices by Hydro Quebec showed that Edmonton had the third-lowest power prices among some two dozen major North American cities. (Only Montreal and Winnipeg were lower.) In Edmonton, the average price for residential customers was 10.34 cents per kiloWatt hour. That’s compared to 15.94 cents /kWh in Regina, 16.32 cents /kWh in Toronto, and 31.05 cents/kWh in San Francisco.

What is a kms?



Yayyyyyy!.... 7000 posts!!!!! lol
 
Kms? That’s short for kilometres.

I figure I’m at 10 cents per kw/h given 6.5 cents overnight plus tax and the delivery charges. If the car has a 75kw battery, is that not about $7.50 per 500 Kms, depending on range? Based on 40k that’s 80 full charges per year, so about $600. Singe range drops in the winter by say 30% id add that to the amount. $780 sounds like a pretty reasonable estimate with any error being to the benefit of the CRA. Unless I’m missing something. Am I?
 
What? Whoaaahhh.....

Where are you getting those numbers from?

A 2017 survey of consumer electricity prices by Hydro Quebec showed that Edmonton had the third-lowest power prices among some two dozen major North American cities. (Only Montreal and Winnipeg were lower.) In Edmonton, the average price for residential customers was 10.34 cents per kiloWatt hour. That’s compared to 15.94 cents /kWh in Regina, 16.32 cents /kWh in Toronto, and 31.05 cents/kWh in San Francisco.

What is a kms?



Yayyyyyy!.... 7000 posts!!!!! lol

This is Canadian....(and I'm not sorry)
The numbers are the maximum allowed by CRA (Canada Revenue Agency - Canada's IRS)
It is supposed to take into account; fuel, maintenance and depreciation
If claimed from an employer, it is non-taxable

At some point, the CRA will figure out that EV's cost less to run, and lower the amount
 
This is Canadian....(and I'm not sorry)
The numbers are the maximum allowed by CRA (Canada Revenue Agency - Canada's IRS)
It is supposed to take into account; fuel, maintenance and depreciation
If claimed from an employer, it is non-taxable

At some point, the CRA will figure out that EV's cost less to run, and lower the amount
NO...I mean ...what is a kms.

Where are the KWH numbers coming from? I goggled Canada's KWH prices and I haven't been able to find prices even close to what you are posting.
 
There are EVSEs out there that have smart features and are WiFi connected. With one of those you could easily track the cars energy use. I think Juicebox and Chargepoint are some examples. It’s too bad the Tesla HPWC doesn’t offer the same options.